These Analysts Boost Their Forecasts On Nasdaq Following Strong Q3 Earnings

Core Insights - Nasdaq, Inc. reported third-quarter revenue growth of 15% year over year to $1.315 billion, exceeding analyst consensus estimates of $1.297 billion [1] - The company achieved adjusted EPS of 88 cents, surpassing the analyst consensus estimate of 85 cents [1] Financial Guidance - Nasdaq updated its 2025 adjusted operating expense guidance to a range of $2.305 billion to $2.335 billion, an increase from the previous range of $2.295 billion to $2.335 billion [2] - The adjusted tax rate guidance for 2025 was lowered to a range of 22.5% to 23.5%, compared to the prior range of 22.5% to 24.5% [2] Market Reaction - Following the earnings announcement, Nasdaq shares fell by 2.5%, trading at $88.12 [2] Analyst Ratings - TD Cowen analyst Bill Katz maintained a Hold rating on Nasdaq and raised the price target from $94 to $96 [4] - Barclays analyst Benjamin Budish maintained an Overweight rating and increased the price target from $108 to $109 [4]